9. December 31, 2021. Troy Company purchased a P4.000.000 tract of land for a factory site. Troy razed an old building on the property and sold the materials it salvaged from the demolition. Troy incurred additional costs and realized salvaged proceeds during December 2021 as follows: Payments to tenants to vacate the premises. P200,000; Demolition of old building, P100,000; Legal fees for purchase contract and recording ownership. P50,000; Title guarantee insurance, P30,000; Proceeds from sale of salvaged materials, P10,000. In its December 31, 2021 balance sheet, Troy should report a balance in the land account of